Q: TVK has recently shown some weakness and hasn't made any recent acquisitions - this is probably due to the large ones made already recently and the need to incorporate those although maybe it's something else.
I am surprised that with the recent share program @ $160/share and being over subscribed that it would have given more of a floor to the stock so is the weakness a good opportunity to buy shares and if so, what is a good price to start or add?
Btw, does the company give indication on the size of its M&A pipeline?
Thanks as always!
I am surprised that with the recent share program @ $160/share and being over subscribed that it would have given more of a floor to the stock so is the weakness a good opportunity to buy shares and if so, what is a good price to start or add?
Btw, does the company give indication on the size of its M&A pipeline?
Thanks as always!
5i Research Answer:
TVK has not indicated the size of its pipeline recently. Shares are still up 23% this year, but considering the drop from the May issue price it is fairly dramatic. The last quarter was not great of course, but we do note that estimates have risen in the past month. We would consider buying into any further weakness and think the long term outlook does remain pretty good here overall.